SEC Closes Investigation Into Crypto.com Without Enforcement Action

The U.S. Securities and Exchange Commission (SEC) has decided to discontinue its investigation into Crypto.com without any enforcement action taken against the exchange.

🚨 JUST IN: The U.S. SEC ends its investigation into Crypto․com with no enforcement action taken.

The exchange confirms full cooperation throughout the probe.

— Coinwaft (@coinwaft) March 28, 2025

In a press release, the company confirmed the SEC’s decision; it affirmed that no further enforcement action would be taken against the company.

Similarly, Kris Marszalek, the firm’s CEO, also confirmed the news on his X account.

He added that he is astonished by how the crypto industry and its users have survived different stormy problems; he branded the Joe Biden administration’s war on crypto as the most “prolific.”

In addition, Kris depicted Gensler-led SEC’s lawsuits against the crypto industry as deliberate attempts to hold back the industry’s growth and keep its banking, investors, auditors, and beyond under SEC’s control. He noted that the battle has made them stronger.

“The fact that we not only persevered but became stronger is a testament to our vision and the community supporting it,”

Kris said

The SEC’s investigation into https://t.co/pFc4Pz9nFR has been closed with no action being taken against https://t.co/pFc4Pz9nFR.

— Kris | Crypto.com (@kris) March 27, 2025

How it All Started

It could be recalled that in October 2024, Crypto.com received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) to recommend an enforcement action against the company.

The SEC issued the Wells Notice because it regards the tokens traded on the company’s platform as securities.

In response to the Wells Notice, the crypto exchange filed a lawsuit against the commission, maintaining that it is doing so to combat the commission’s unauthorized and unregulated approaches.

The company added that its case against the commission would serve as a deterrent to the commission’s expanded jurisdiction beyond the statutory limit. 

It added that its action is a move to join other crypto ambassadors fighting hard to protect the future of the crypto industry.

“We are doing so to protect the future of the crypto industry in the U.S., joining a series of our peers who are actively defending themselves and taking action against a misguided federal agency acting beyond its authorization under the law,”

the company said

Later, in December 2024, the company dropped the case against the SEC after President Donald Trump’s victory.

In January 2025, the exchange posted reiterating its support for a regulated crypto environment following the decision of the then-acting SEC Chairman Mark T. Uyeda to form a dedicated crypto task force for more defined digital assets regulations.

Acting SEC Chairman Mark T. Uyeda announced the formation of a dedicated crypto task force, led by Commissioner Hester Peirce, to develop a clearer regulatory framework for crypto assets.

Task force members, including key SEC advisors, will work to provide realistic paths to… pic.twitter.com/NSQN5Moj2b

— Crypto.com (@cryptocom) January 23, 2025

SEC Closes More Crypto Cases

In addition to major cases dropped earlier this month, Eleanor Terrett, a journalist and host at CryptoAmerica, reported that the SEC has decided to stop litigation against Kraken Exchange, Consensys, and Cumberland.

🚨NEW: The @SECGov has formally announced litigation dismissal against @krakenfx, @Consensys and @CumberlandSays. pic.twitter.com/75NW9u5qrT

— Eleanor Terrett (@EleanorTerrett) March 27, 2025

The SEC has yet to make an official statement, which is believed to be due to additional procedural steps to be taken.